What is Marine & Cargo Insurance?
In today’s world shipping accounts for near 90% of global trade, daily international operations worth millions of dollars means it is essential to effectively manage risks involved.
Ship owners and charterers must be Insured “P & I” (called a Protection & Indemnity) Insurance associated with damages to third parties. P & I Insurance usually covers these risks: damage to or loss of Cargo, environmental damage, damage to passengers or crew health, life or property arising out of the collision of ships. Debris removal after the Insured event, also passengers repatriation expenses.
What does it cover?
Hull and machinery (H & M) Insurance includes:
Hull and machinery (H & M) Insurance
Increased value Insurance
War Risks (including Terrorism)
Business interruption Insurance (BI)
Builders/ Construction risks (including conversion risks)
Delay of delivery
Towing and voyage risk Insurance
Sub-sea equipment Insurance
Protection and Indemnity coverage
P & I Marine Insurance covers:
Protection and Indemnity including Freight, Demurrage & Defence (FD & D)
Charterer’s liability insurance
Marine Professional Indemnity Insurance
Marine Products Liability Insurance
Terminal operator’s liability insurance
Port Authorities liability insurance
Marine Employer’s Liability Insurance
Shipbuilders product liability
Bunkering companies liability insurance
For general inquiries or to reach a colleague, please give us a call or contact us via e-mail. If you are an existing client, we encourage you to get in touch directly with your allocated Client Executive.